Ledger

What is a Ledger Hardware Wallet, and why should I use it with HYCON?

The Ledger Nano S and Ledger Blue are USB based hardware wallet devices that allow for the secure storage of private keys associated with accounts on the HYC blockchain. The private keys are generated from a 24 word mnemonic seed which should be stored securely to allow for recovery of the contents of the hardware wallet in the case of loss or damage. The key does not provide access to one HYC account, it in fact allows users to control multiple HYC addresses with a single secured key.

The private key stored on the Ledger Device never interacts with any networked environment, transactions are instead signed securely within the device, and then returned to the application as signed, valid transactions.

Here at HYCON we strongly advocate the use of hardware wallets as a secure way for users to interact with the blockchain, and we are endeavoring to make the process as smooth as possible.

In order to use a Ledger Device to interact with the HYCON network, the most convenient way is to use our desktop client, however Ledger functionality is also present in the GUI interface provided by a full HYCON node.

Access your Accounts using Desktop Wallet

Now that everything is set up, you can start using the private keys on the device right away using Desktop Wallet.

Open Desktop Wallet

Make sure your Ledger device is connected and unlocked, and that you’ve opened the Hycon app

Click on MENU icon at the right top corner. List will appear at the right side.

Click on LEDGER VIEW

An address selection modal will appear

Select an address to interact with. Usually this will be the first one, but you can use any of them

Click the NEXT button

You should now see a screen that shows your account address and balance, and allow you to send HYC.

Send HYC from your Account

Assuming you’ve connected your device, unlocked it, selected an address in the desktop wallet and are on the summary page:

Click on TRANSFER at the top right corner

Enter an address in the Address (To) field

Enter an amount to send in the Total Amount field

Optionally, enter a fee in the Fee field. Generally, you can skip this.

Click TRANSFER. It will prompt you to confirm the transaction on your Ledger device. In order to do this, verify the information on your device’s screen and press the right-hand button (Ledger Nano S) or press the CONFIRM button (Ledger Blue)

Your transaction should be processed in approximately one (1) minute*.

You should be able to see this transaction under the “Transaction” tab of your wallet, as well as on the Hycon Blockexplorer.

* – this may vary based on network conditions and other factors

Need help? Have feedback?

Check in with us via email at contact@hycon.io or write something in the Telegram chat or on Slack.